04 November 2022, Mumbai:

For the second quarter Relaxo Footwear’s net profit fell by 67 per cent. This was because of volume decline and high raw material prices. Revenue from operations was down six per cent. This was a result of a decline in volumes of the categories serving the mass segment that were under inflationary pressures with reduced affordability. Total expenses were up two per cent in the second quarter. Ebitda was at Rs 59 crores as compared to Rs 117 crores in the corresponding period of the previous year. Ebitda was under pressure due to high raw material prices. Ebitda margins declined by 748 bps to eight per cent in the second quarter from 16 per cent in the previous year’s quarter.

Relaxo registered good growth in revenue on the back of demand recovery due to opening of stores across geographies, a strong rebound in economic activities resulting in business returning to pre-Covid levels. Relaxo is firmly and resolutely on a journey to accelerate its growth further by using a diverse portfolio, enhanced distribution network and deployment of resources in innovation, brand promotion and continuing to follow a customer-centric approach. Relaxo, based in New Delhi, is one of the leading footwear makers in India.

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13 October 2022, Mumbai:

Footwear and outdoor gear brand Woodland is planning to invest around Rs 70 crores annually to increase its manufacturing capacity and store counts in the country. The company plans to add ten new stores before the end of the financial year 2023 with a focus on metros and mini metros across India.

The company can produce eight million pairs of shoes and clothing annually if the capacity of the current factories is used to its full potential. This is without building any additional plants. Woodland is now using roughly 60 percent of its installed capacity. Woodland specialises in premium athleisure footwear designed for the outdoors and runs its super-premium Wood label. The brand, which began in Canada, first entered India 25 years ago and retails through 500 stores with a presence in over 5,000 multi-brand outlets.

Woodland has a strong foothold widely spread across the countrythrough exclusive outlets as well as a presence in small and large format MBOs. Launching new products, and revamping existing products to satisfy the end user while maintaining the distinctive quality, is one vital exercise that Woodland being an international brand believes in. During the pandemic, it crossed new milestones by marking a very strong presence across various e-commerce channels. Other than this, it has also expanded its footprint in the export market.

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03 November2022, Mumbai:

OG’s new athleisure line is made from sustainable materials including hemp, bamboo and beech wood.

The line is meant for both men and women and is designed to appeal to eco-conscious, Gen Z consumers who require performance wear made for conscious comfort. The athleisure collection has a colour palette of coral, light blue, black, and nude and mixes sporty staples such as elasticated shorts and hoodies with more dressy items such as halter and crop tops for women and streamline separates for men. Garments are designed to be wearable for sport or casual wear and the brand’s cartoon style logo features on the back of hoodies for a graphic touch.

This Indian brand aims at bridging the gap between the variety and playfulness of fast fashion and the need to be environmentally conscious. The line retails on the brand’s recently launched e-commerce store. Indians are being drawn to athleisure outfits in larger numbers every year.

Brands are offering a mix of functionality and fashion in their products to catch the attention of new consumers.This is due to the rise of the athleisure trend. The millennial generation has become both health conscious and fashion forward. They sport stylish athleisure while wanting to look good and feel comfortable in what they wear.

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27 October 2022, Mumbai:

Daiso, the Japanese value retailer has opened a store in Lucknow, Uttar Pradesh.

The retailer offers goods ranging from fashion accessories to personal care products to homeware and tableware, among other products. The store has an open plan set up, a bright pink façade, and a brightly lit interior. The store is within Lulu in Lucknow.

Daiso Japan continues to innovate and provide an inspirational, unique shopping experience to all visitors. Key to its global appeal, and undoubtedly its success, is the absolute focus on quality, variety, and uniqueness. There are over 80,000 lifestyles, novelty, and gift products at any one time, with 800 new products introduced to customers every month, most of which are at an irresistible price. Today there are over 60 stores across the UAE, Saudi Arabia, Kuwait, Oman, Qatar, and Bahrain. Daiso Japan was founded in 1977.

Daiso Japan is now a genuine retail powerhouse, with over 5,000 stores across the world, and has attained an unrivaled position as a one-stop variety shop for local and international shoppers over the past three decades.

Daiso first entered into talks to enter the Indian market with Reliance Retail in 2011. Lulu Mall is owned by the real estate and retail business Lulu Group. The business runs a number of malls in India and plans to open the largest mall in India to date in Ahmedabad.

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07 October 2022, Mumbai:

Valentino will open its first store in India later this month. It will be in New Delhi and will carry the entire line of the brand’s footwear, accessories and clothing for both men and women. Valentino is being brought to India by Reliance Brands.

Currently, more than 1,300 points of sale and 212 boutiques are directly managed by Valentino worldwide and its brand presence is across 144 locations. Founded in 1960 in Italy this is a couture house steeped in romanticism, color and craftsmanship that has become renowned for its international fashion influence. Established in 2007,

Reliance Brands was born out of the realization that the new age consumer in India has far more international exposure, brand awareness, lifestyle aspirations and spending power than ever before. Moreover, they’ve grown up in an environment of abundance, choice, and convenience of buying from anywhere with a simple click. In the attempt to marry the brands with the smart customer, the company has brought home 50 international brands, some of whom have their largest markets in India. Reliance Brands caters to the segments of luxury, bridge-to-luxury, high-premium and high-street lifestyle and has become the partner of choice for international brands looking to explore the Indian luxury landscape.

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25 October 2022, Mumbai:

Rare Rabbit has opened a store in Mumbai. The store is spacious and decorated in a classic style, with natural wood and black accents on a bright, white background.

The store has segments for smart casual attire such as light jackets, shirts, and jumpers as well as formal wear ranging from Indian-style jackets to velvet western wear-style blazers. The store also houses a range of accessories including a wall dedicated to formal leather footwear accompanied by a seating area. Belts and scarves also feature as well as a selection of graphic T-shirts.

This is a premium men’s wear brand catering to the mass market and owned by textile producers and exporters Radhamani based in Mumbai.

Rare Rabbit currently has around 25 standalone stores in India and is also available in over 100 multibrand outlets across 60 cities. The average price of apparel is Rs 3000. Apart from apparel, the outlets sell ceramic bow ties costing Rs 4000 to Rs 25,000 and art pieces that go up to Rs 6 lakhs.

Rare Rabbit opened its first store in India in Bangalore in 2015. This was the first concept store and it offers fashion, apparel, art, eyewear, luggage, sculptures, watches, and ceramic accessories, which are sourced from Germany, Japan, Singapore, Italy, Turkey, India, and Bangladesh.

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04 October 2022, Mumbai:

Puma has opened an experiential store in Mumbai. This is the brand’s fourth experiential store in the country following two such stores in Bangalore and one in Gurugram.

The Mumbai store is set to be a hub for all things fun, fashion, fitness, art, and expressive technology. The two-floor space has cutting-edge offerings and Instagrammable zones that echo Mumbai’s pace, thrill, and culture. The store showcases Puma’s limited-edition global collaborations for the city’s fashion-forward shoppers who love to stay up to date with elevated style trends.

The immersive brand space also has dedicated sections with a premium feel to cater to the fitness and sporting needs of men, women, and children. The store exhibits an unapologetic artistic vibe with a strong local flavor. An exclusive mural on a focal wall pays a modern ode to Mumbai. Bold and futuristic, the artwork in bright neon colors depicts the Puma cat amid the city’s iconic landmarks like the Worli Sea Link and the famous revolving restaurant on Marine Drive. Carrying the spirit of art and culture further, the experiential store comes with a customization studio. Shoppers can fuel their creativity and personalize their Puma sneakers, athleisure, and accessories with a state-of-the-art customization machine that can print, paint, dye, embroider and knit.

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31 October 2022, Mumbai:

Walmart and Ikea face losses in India despite a surge in sales.

Walmart India – which owns and operates 28 cash and carry wholesale stores – posted a six percent jump in revenue in the fiscal year 2022 while the net loss went up by 49 per cent compared to the year ago.

Three of Walmart's entities in the country, Flipkart Internet, Myntra, and Walmart India, all expanded losses by almost 50 percent largely due to higher spending on delivering orders, advertisement, and promotions, while their revenues grew by up to 45 percent.

Ikea India’s net loss too went up by 12 percent while revenue jumped by 77 per cent. Furniture and home décor store Ikea India is working on its plans for positioning, growth, and profitability of the omni-channel business in India.

Nevertheless, Walmart and Ikea are currently in a market acquisition mode in India to establish a dominant position and may sacrifice profit in the short term. Also, the market environment has been tough last fiscal due to increased competition despite a bounce back post-Covid.

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15 October 2022, Mumbai:

Elle Décor is a joint venture by Mont Blanc and Lagardere. Elle Décor is India’s first fashion multibrand home store. This retail format will offer a diverse selection of high-quality bed linen, bath linen, kitchen linen, tableware, and accessories.

The format is positioned as a one-stop destination for premium home fashion brands/products to be launched in Tier I and selected Tier II cities across India, with dedicated sections for each brand. Elle Décor will be launched in high-end malls and select high streets and will have two formats: an express format with a size of 3000sqft to 5000 sqft and a large format with a size of more than 8000 sq ft.

Mont Blanc is a company based in the UAE with offices in Bangalore and Gurgaon. Lagardere is a group based in France. Created in 1992, Lagardère has operations in more than 40 countries worldwide and employs around 27,000 people.

Among the group’s divisions, Lagardère Travel Retail operates an international network of more than 4,800 points of sales in around one thousand airports, mainline and urban train stations and Lagardère Publishing is the world’s third-largest book publisher for the general public and educational markets and the leader in France.

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01 October 2022, Mumbai:

Liberty Shoes expects a 30 percent year-on-year growth in business this fiscal. The footwear retailer’s growth this year stood at eight percent. Liberty will keep its focus on product development, youthful designs, manufacturing, marketing strategies, and opening stores to grow.

To maintain the growth trajectory, the company is implementing impactful business strategies, across all its distribution channels. Currently, Liberty has 450 outlets in India, primarily in Uttar Pradesh, Bihar, and Jharkhand.

It has around 200 company-owned and company-operated footwear stores and 250 franchise-operated stores. It plans to open about 100 stores in tier II and tier III cities in 2023 and strengthen the distribution for a wider reach in multi-brand stores. It also expects to see an increase in exports.

The company plans to focus on the athleisure segment with an introduction of an athleisure-centric line and it has also recently tied up with celebrities Ayushmann Khurrana and Rakul Preet Singh. The footwear retailer has manufacturing units in Haryana and Uttarakhand.

This fiscal, consumers are upbeat about products and focused on branded footwear, sustainable products, and quality. Several leading global fashion and lifestyle brands have started betting big on small cities in India. Nearly a third of future consumption in footwear is expected to come from aspirational consumers in these markets.

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